London Olympic Village Repurposed As Low-Income Housing [Pics]

Instead of letting a building that used to house 17,000 Olympic athletes go to waste, a Qatar-based real-estate developer is turning the property into a brand new housing project for those in need.

Since the financial downturn in 2007, many people have struggled to secure a mortgage on their own home, leaving them at the mercy of private landlords. This new privately-owned development could provide a safe and reliable alternative to the sometimes unpredictable private landlords.

Half of the properties will also be handed over to a local housing authority that provide accommodation for the thousands of low-income Londoners currently residing in the “Olympic boroughs.”

The first 100 or so homes will be ready for people to move in by August of this year, with batches of a similar size being made available over the following six months.

Apart from housing, the old Olympic compound will also become home to an education campus with primary and secondary schools, a health centre, shops, offices, cafes and restaurants.

The houses also feature flexible contracts that can be broken after six months – provided two months notice is given – making the apartments an excellent option for those in search of a temporary solution to their housing problems.